WHEN IS THE BEST TIME TO SELL A HOUSE?
SPRING CONFIDENCE HAS ARRIVED
By Trish Willis | Member of the Property Institute of NZ
Coming into Spring 2024 there has been a noticeable uptick in the number of property sellers going to market and more sales being made.
Interest rates have reduced, so much so that buyer activity in all price ranges is steadily increasing in volume making now a good time to sell a house, investment property or lifestyle block. Spring is one of the most reliable months for selling residential properties in any year typically but this is heavily reliant on the competence of the real estate agent you choose to list with and your own planning.
Find out how much commission you might need to pay first.
BEST TIME TO SELL ALL IN THE PLANNING
The best time to sell a house is when everything lines up for you - a prepared seller will do better than one who isn't.
Your choice of real estate agent combined with numerous other decisions to make will have a direct impact on how well and fast your property will sell.
For example, some estate agents are good at advertising but not so good at sales with buyers, some excel at both plus some. (Refer below to why buyers need more help to purchase properties in today's market.)
IS NOW A GOOD TIME TO SELL A HOUSE?
We are optimistic but New Zealand is not out of the woods yet, so it is not unusual for real estate agents short on listings to pressure people to list with them, often with an appraisal valuation in hand at a price that might be too good to be true.
Planning to sell well ahead of time is advised to avoid overlooking the fine print and making decisions under pressure for time or lacking proper advice, which can end up very costly.
Vetted real estate agents proven competent are known for achieving optimum sale prices in shorter than average time frames.
Find out more about vetted real estate agents - a genuine free service New Zealand-wide.
BUYING & SELLING IN THE SAME MARKET EASES PRESSURE
If you are buying and selling in the same market, you have less cause for concern as you might sell for less than you might have a year ago but you can also expect to pay a bit less for your new property than it would have cost a year ago. While you might get a bit less for your property, you will also probably be paying less commission - so keep that in mind.
Use this overview of how much it costs to sell a house in NZ.
WHO'S IN THE MARKET FOR BUYING PROPERTIES?
There are always buyers for the usual reasons such as getting onto the property ladder, downsizing, upsizing, upgrading, changing jobs to new locations, births, deaths, building new, wanting to invest, wanting a warmer home or being closer to family which has become more common in recent years.
HOW TO SELL FOR THE HIGHEST PRICE
Regardless of the property market, sale prices are dependent on things like the structure/layout of the property, presentation, land size, aspect and location to name a few. But ultimately, house sale prices are heavily reliant on the competency of the real estate agent, their appraisal accuracy and method of sale used. Here is a checklist to help you better scrutinise free real estate appraisals.
As long as a property is listed with a suitable property agency and the real estate agent is capable, experienced, trusted and proven competent, your chances of the price you want increases.
We find that properties listed with a real estate agency and agent that we have vetted are more likely to achieve the highest price possible. Notably, they also sell on average in 27 days. (The current national average is 38 days)
Real estate agents who have been proven competent through our vetting process are more likely to have worked in difficult markets and have the attributes and negotiation skills required to get you the best result.
Find out more about independently vetted agents.
TIPS FOR SELLING A HOUSE IN 2024
If the time is right for your circumstances, any time of year can be a good time to sell, depending on:
- the accuracy of your property appraisal
- which agency and agent you choose to list your property with
- the method of sale used
- the standard of advertising and marketing
Proactive, digital real estate marketing to find qualified buyers for your location, price range and property type is key, as is the method of sale - all things which impact on your sale price.
Doing your due diligence and comparing real estate agents' competence has never been more important.
BUYERS NEED MORE HELP TO BUY HOUSES
Home buyers need more help to meet bank lending affordability and Loan to Value Ratio rules. This requires help from their real estate agent to liaise with banks, mortgage brokers, insurance companies, property valuers, lawyers, councils, tradespeople, Trusts and families - often at speed.
You may have a property zoned for development in Auckland and would like to know how to sell to developers or you may have tenants that wish to remain as tenants if the buyer is investing in your property.
On many occasions, home buyers need to sell their existing home, so your sale and purchase agreement may be conditional upon that. The scenarios are many and a real estate agent must have the capability to manage conditions, often within tight timeframes.
A high level of knowledge, tact, integrity, competence, experience and negotiation are a minimum so make sure your real estate agent has been vetted - it can be very reassuring and can achieve the result you need.
You can request a list of vetted agents to objectively compare here - a genuine free service for New Zealanders since 2009.
ACCURATE HOUSE APPRAISAL PARAMOUNT
A real estate appraisal sets the foundation for a property sale and if it's poorly researched in the economic climate of the day, you will be on the back foot from day one, possibly without even being aware of it.
We are still hearing many stories of real estate agents providing unrealistic appraisals to entice sellers to list with them, and once they are in a contract, the price crunching starts, creating a disheartening experience rather than a satisfying one.
Successful property sales in this market depend entirely on the real estate agent's initiative, digital marketing, integrity, personal attributes, ability to manage various methods of sale and of greatest value, their negotiation skills.
Our vetting process throughout the last 13 years has proven to achieve optimum sale prices, within shorter than average time frames, regardless of the time of year. Read some of our reviews.
Be more assured with a vetted real estate agent. Request an agent shortlist now or call 0800 789 532 - it's a free service NZ-wide.
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- Property Advisor of the Year 2023 | Property Institute of NZ
- Best Independent Real Estate Advisors 2022 | BUILD 2022 Real Estate & Property Awards
- Best Property Advice Hub New Zealand 2021 | APAC
- Most Reputable Property Advice Hub New Zealand for Wise Up NZ 2020 | APAC
- Best Real Estate Agent Vetting Service 2018 | APAC
Article updated September 12, 2024 by Trish Willis - Agent Finder NZ